Understanding DOGE's Price Movement
DOGE has seen a notable increase of 1.40% over the last 24 hours. As of now, the price of DOGE seems to have set a local resistance level at $0.1020. However, it is currently returning to its support level. The key question here is: will the buyers be able to seize the initiative by the end of the day?
Key Levels to Watch
If buyers fail to take control, there is a chance of a breakout that could potentially move DOGE to the $0.09 zone. On a daily time frame, it's crucial to keep an eye on the nearest level of $0.09136. Should the rate return to this level, the accumulated energy might be sufficient to see a drop to the $0.08 area. This scenario remains relevant for the rest of the week.
Bigger Picture: Weekly Analysis
On a larger scale, traders should also focus on the $0.09136 level. If the weekly candle closes far from it, there is the possibility of a bounce back to the $0.1 zone and above. This level will be a significant indicator for understanding future price movements.
Current Trading Price
As of the latest data, DOGE is trading at $0.0977. The coming days will be critical to see if DOGE can maintain its current support levels or if it will move towards new lows.
Stay tuned for more updates on cryptocurrency trends and market insights.
